24C.—(1) If the total sum received by the Agency on account of levies prescribed under section 24B during a financial year is greater than the Agency’s expenditure on the performance of its functions referred to in F40[section 10(3)(j) of the Competition and Consumer Protection Act 2014] during that financial year, the Agency—

(a) shall apply the surplus to the performance of those functions and the exercise of those powers in the following financial year, and

(b) shall reduce the levies prescribed in relation to the latter financial year accordingly.

(2) If the sum received by the Agency on account of levies prescribed under section 24B during a financial year is less than the Agency’s expenditure on the performance of its functions referred to in F40[section 10(3)(j) of the Competition and Consumer Protection Act 2014] during that financial year, the Agency may prescribe levies in relation to the following financial year sufficient to—

(a) make good the deficiency, and

(b) ensure that the sum received by the Agency on account of such levies during the following financial year fully covers the performance of those functions during both those financial years.]